LVMH Taps Michael Burke to Lead Americas Business Amid Trade Uncertainty
The appointment, set to bolster the group's presence in North and South America in a complex period for trade and geopolitics, reflects LVMH's ambition to further invest in the region in coming years, according to a company memo seen by The Wall Street Journal. Burke, who has already take on his new role, will report to Stephane Bianchi, LVMH's managing director.
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New York Times
16 minutes ago
- New York Times
WNBA players wisely use All-Star spotlight for CBA leverage: ‘Pay us what you owe us'
INDIANAPOLIS — The WNBA All-Star Weekend represented the league at its peak: a massive mid-season showcase featuring the best players in the world, hosted in a city that has become synonymous with the rapid explosion of women's sports. But the celebrations took place in front of a backdrop of labor uncertainty. The league and the players' union remain far apart in negotiations for a new collective bargaining agreement, with the current CBA set to expire on Oct. 31, 2025. With all eyes on the league, the All-Stars emerged for pregame warmups Saturday to reveal a message on their shirts: 'Pay Us What You Owe Us.' The players had a breakfast meeting the morning of the All-Star game when they collectively decided to make the shirts. The shirt is available for sale on the players' union's Instagram account, with all proceeds going to the WNBPA and the players. A post shared by WNBPA (@thewnbpa) After years of fighting an existential battle for the survival of the league, WNBA players enter this bargaining cycle with a rare power: leverage. The league is generating record revenue, it's expanding, and it's become part of the national consciousness. Now is the time for the players to cash in on what they have brought to the table. They want a business model that allows them to share in the growth of the WNBA and direct more of the revenue towards salaries and player experience. Advertisement 'We see the growth in the league and as it stands, the current salary system is not really paying us what we're owed,' said union president Nneka Ogwumike, a Seattle Storm forward. 'We want to be able to have that fair share moving forward, especially as we see all of the investment going in, and we want to be able to have our salaries be reflected in a structure that makes sense for us.' The league is in a period of hyper growth, as commissioner Cathy Engelbert illuminated in her annual mid-season address. Viewership is up 23 percent year over year, attendance 26 percent, and merchandise sales 40 percent. Money is pouring into the league — via media rights, expansion fees and other avenues — but players need to secure a piece of the growing business before the WNBA enters a sustainability mode. Their prominent message on one of the league's biggest nights, and their commitment to a united front, shows that the union understands its strength and is taking control of the narrative. Doing so on All-Star weekend isn't just about getting all of the players in one room together, though the breakfast meeting composed mostly of union leadership couldn't have happened if the players weren't all in one place. The timing is also important to engage fans when they are paying attention and when players are speaking to a nationally-televised audience on ABC. This effort allowed players to tap into the community that supports them and wants to help. At a panel earlier Saturday, fans asked Dawn Staley, Sydney Colson and Kate Martin how they could make a difference in the negotiations. Fans brought 'Pay the Players' signs to the game, and Mystics guard Brittney Sykes displayed one visible on the broadcast behind Engelbert during postgame interviews. The crowd also drowned out Englebert's speech with chants of 'pay them.' 'Pay them!' WNBA All-Star fans drowned out commissioner Cathy Engelbert during her presentation of the game's MVP award. With several CBA conversations in Indy this weekend, players warmed up in shirts that read 'Pay Us What You Owe Us.' — The Athletic (@TheAthletic) July 20, 2025 'It's huge to have the fans backing us,' union vice president Napheesa Collier said. 'A lot of things are the court of public opinion, and it does matter what people think, they of course, at the league recognize that as well, so adding that pressure is really great for us.' Players are not new to public activism. As WNBPA first vice president Kelsey Plum said, this is a resilient group that was politically outspoken during the Georgia Senate race in 2020. They understand the unity it takes to achieve a desired outcome. Advertisement Fashion as a visual forum for protest is a familiar tactic. The Minnesota Lynx wore T-shirts that said 'Change starts with us' and 'Black Lives Matter' on the back after the police killing of Philando Castile in 2016. The entire league wore Breonna Taylor's name on their jerseys in the 2020 WNBA bubble after she was killed by a police officer. And in 2022, the WNBA All-Stars changed at halftime into Brittney Griner jerseys to bring attention to her detention in Russia. At a moment that is critical to determine their future, players don't want to leave any stones unturned. They need participation from throughout the union, which is why a record number of players showed up to the bargaining meeting. For instance, Satou Sabally was unable to play in the All-Star Game but flew to Indiana on Thursday to attend the negotiations. Players have to publicly apply pressure on the league, using their collective, consistent messaging and their fan bases to rally behind them. They are preparing for a lockout, putting money away in case negotiations stall. They are appealing to Engelbert's legacy: Does she want to be the commissioner who presided over the most significant growth in women's sports history, or the one who oversaw a work stoppage? The wording of 'owe us' on the T-shirts was clarifying. The players have talked about getting what is fair, but this was a crucial change in the strategy to signify that a piece of the business already belongs to them. 'We're going to continue to push for everything that we've earned,' Liberty guard Natasha Cloud said. 'The word earned is something that needs to be highlighted. I think a lot of times you get told to just continue to take crumbs and be thankful for what we have,and that's just not the case anymore.' By hijacking a tentpole event for the league, players are expressing that they will not settle. They can't afford to do anything less. (Photo of Brittney Sykes: Steph Chambers / Getty Images)
Yahoo
44 minutes ago
- Yahoo
Michael Jordan gave Charles Barkley 1 financial tip that made him millions
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. We adhere to strict standards of editorial integrity to help you make decisions with confidence. Some or all links contained within this article are paid links. Young athletes have been known to blow through their first big paycheck. Former NBA star Charles Barkley almost did, too — until Michael Jordan gave him one life-changing financial tip. In an episode of The Steam Room podcast, Barkley says he and Jordan were about to sign endorsement deals with Nike at roughly the same time. Barkley's deal was originally for $3 million, but before he signed on the dotted line, Jordan asked him one simple question: "Hey man, why you need all that money?" Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 5 of the easiest ways you can catch up (and fast) You don't have to be a millionaire to gain access to this $1B private real estate fund. In fact, you can get started with as little as $10 — here's how The conversation led Barkley to make a decision that could have cost him millions, but instead made him a fortune. Here's the game-changing money move that he learned from Jordan, and how you can apply it to your own wealth-building strategy. Equity over cash Although $3 million was no small sum, Jordan recognized that with the right strategy, Barkley could turn it into something much bigger. He told Barkley to renegotiate his contract and take only $1 million in cash and the rest in Nike stock options. After a brief discussion with his team, Barkley took the advice and set himself up for an immense windfall down the road. 'I actually made probably 10 times that amount of money and I'm still with Nike to this day,' Barkley proudly proclaimed. Barkley didn't mention if he still holds his Nike stake, but the stock is up a jaw-dropping 4,000% since his signature basketball sneaker, the Nike Air Force Max CB, debuted in 1994. His story highlights how gaining equity can be far more lucrative than a quick cash payout, especially when it's tied to a strong, growing business. Here's how you can apply this lesson to your investment strategy. Read more: Rich, young Americans are ditching the stormy stock market — Aiming for long-term growth Like Jordan and Barkley at the dawn of their respective careers, young investors should be more focused on capital appreciation and growth rather than immediate cash flow. This is why some financial advisors recommend using the Rule of 100 for age-appropriate asset allocation. To use this rule, subtract your age from 100 and the remainder represents the percentage of your portfolio that you should invest in stocks. So, if you're 30 years old, you would set aside 70% of your portfolio for stocks while 30% can be allocated to safe havens such as bonds. Another way to prioritize growth is to set aside a portion of your paycheck to invest in stocks every month. As of January, 2025, the personal savings rate is 4.60%, according to the Federal Reserve. By saving a greater portion of your income — say 15% — you could reach your financial goals faster. However, given the current economic climate, many don't have enough savings at the end of each month to invest in stocks. But that doesn't mean you can't harness the power of compounding interest. Rather than aiming to save up 15% of your paycheck each month, you could turn your spare change from everyday purchases into an investment opportunity with Acorns instead. Here's how it works: Once you link your debit and credit cards Acorns will round-up every purchase you make to the nearest dollar and set aside the excess. When the balance reaches $5 Acorns will then invest it in a smart investment portfolio comprising diversified ETFs. This way you can turn everyday purchases like a $4.25 cup of coffee into a $0.75 investment in your future. Just $3 worth of daily round-ups means $1,000 in savings in a year — and that's before compounding. You can get a $20 bonus investment from Acorns when you sign up. Meanwhile, young investors with a higher appetite for risk could instead focus on growth stocks rather than dividend-paying, blue-chip stocks. If you want to begin investing in individual stocks, but don't know where to start, consider consulting experts at Moby. Founded by a group of former hedge fund analysts, Moby aims to help investors find undervalued stock picks that could potentially deliver multi-bagger returns. To do so Moby delivers hedge-fund level stock market analysis in plain English straight to your inbox. Moby has a pretty successful track record — over the past four years, its stock picks have outperformed the S&P 500 index by 11.95%. And that's over the index's annualized returns of roughly 10% per year. What's more, over 75 stock recommendations from Moby have delivered returns of over 100%. Sign up today and become a smarter advisor within minutes. What to read next How much cash do you plan to keep on hand after you retire? Here are 3 of the biggest reasons you'll need a substantial stash of savings in retirement 5 simple ways to grow rich with US real estate — without the headaches of being a landlord. Start now with as little as $10 This tiny hot Costco item has skyrocketed 74% in price in under 2 years — but now the retail giant is restricting purchases. Here's how to buy the coveted asset in bulk Financial aid only funds about 27% of US college expenses — but savvy parents are using this 3-minute move to cover 100% of those costs Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Sign in to access your portfolio
Wall Street Journal
an hour ago
- Wall Street Journal
Atlanta's Growth Streak Has Come to an End
ATLANTA—Since the invention of air conditioning, Atlanta has known one constant: growth. The region is finally cooling off.
